Often times people believe that the term “estate planning” refers to the management of affairs for those who are wealthy. However, estate planning is really just the process of obtaining certain legal documents to be sure that your assets and property are distributed directly to those who you intend them to go to upon your passing, and to protect yourself in the event that you become incompetent or ill and cannot direct your own care or your own finances. Estate planning is crucial for peace of mind because it allows you to minimize disputes between your beneficiaries, minimize applicable taxes for your heirs, and choose the right people to help you make financial and medical decisions in the event you cannot.
While everyone’s estate planning needs will differ, estate planning can help families prepare for both the present and the future through the use of basic documents such as Last Will and Testaments, Powers of Attorney, Living Wills, and Health Care Proxies, as well as more advanced documents such as Irrevocable and Revocable Trusts. Our firm will discuss your individual estate planning goals and devise a plan based upon your unique situation. Be sure to click on our services page to get a more detailed description of each of those benefits and documents.